Is VP8 open source?

WEBINAR:On-Demand

"One of the big pieces of news out of the Google I/O conference
last week was the open sourcing of the VP8 video codec.

"With VP8, the promise from Google is a video codec on par with
H.264 that will be available royalty-free. It's a good idea, but
there might be a problem.

"The license that Google has chosen for VP8 isn't technically an
approved license from the OSI (Open Source Initiative), the group
that decides what is and what isn't a bona fide open source
license. At least that's the view of former Sun Chief Open Source
Officer Simon Phipps."

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